So why is "Agent Zero" -- a nickname derived from his former jersey number -- eager to unload the home for zero profit? Well, the Los Angeles Times theorizes it may have to do with the $40 million lawsuit Arenas just filed against his former business manager for mismanaging his money.
According to Forbes, even though Arenas claims he paid Boulevard Management $2.25 million to handle his funds, Arenas is accusing the company of failing to monitor his accounts, pay his bills on time, and accomplish other tasks that caused him to lose millions of dollars.
While Arenas' finances may be in trouble, his Mediterranean-style home on a hill in the Encino neighborhood appears to be in great shape.
"It was designed specifically for that piece of land, to capitalize on the view," listing agent C. Daniel DeBruno explains.
Indeed, every room is angled to provide breathtaking vistas. The home's views extend from Burbank to Calabasas, roughly 23 miles, "which makes Fourth of July amazing," says DeBruno's partner, Geoff Gil. "You can see every fireworks show from there."
The five-bedroom, 4.5-bathroom home was almost completely rebuilt in 2003 -- 2004, when a 1,700-square-foot addition was completed. It has since been updated, DeBruno adds.
Rich hardwood and polished travertine floors are seen throughout the home, as are high wood-beamed ceilings in the family room, kitchen, and living room. The first floor has a largely open floor plan, making it perfect for entertaining. Sliding doors bring the outdoors in, and five fireplaces provide warmth on an occasional chilly night.
The areas outside the home are just as opulent: An outdoor kitchen opens to a spectacular terrace, pool, and hot tub. There's a three-car garage as well as parking for 10 additional cars.
Arenas played in the NBA from 2001 to 2012 with teams including the Golden State Warriors, Washington Wizards, and Orlando Magic. He was an NBA All-Star from 2005 to 2007.
Here's to hoping Arenas' finances start looking on the up, starting with a swift sale.